Paramount wins bidding war for Warner Bros after Netflix walks away

Paramount’s proposal values Warner Bros at around $112bn (£83bn). - Mike Blake /Reuters Paramount has won the bidding war for Warner Bros, after its 11th-hour bid prompted rival Netflix to pullout. Netflix on Thursday night walked away from an $83bn deal for Warner Bros after Paramount, controlled by the billionaire Ellisons, convinced the Hollywood studio to back a rival deal. Warner Bros Discovery (WBD) said its board of directors had concluded that a $31-a-share offer from Paramount constituted a “su ...